SD 1177

This bill requires Massachusetts to divest its state pension funds from companies involved in nuclear weapons production within 12 months of enactment. Specifically, it directs the Pension Reserves Investment Management Board to identify all direct and indirect holdings in companies that develop, test, produce, maintain, or trade nuclear weapons or nuclear weapon systems, and to sell or withdraw these investments. The divestment requirement applies to both publicly-traded and non-publicly traded securities, though indirect holdings in actively managed investment funds are exempt from mandatory divestment (the fund must instead write to those fund managers). The bill establishes this divestment as the official investment policy of the state's public pension system, which manages retirement assets for state employees, teachers, and local retirement systems.